Exam (elaborations)
Arizona Health/Life Insurance Exam|104 Answered Questions
Arizona Health/Life Insurance Exam|104 Answered Questions
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Arizona Health/Life Insurance Exam|104Answered Questions
Which element of a contract constitutes a definite and unqualified proposal
by one party to another? - -Offer
-Skilled nursing facility expenses are sometimes covered by ___________, but
ONLY if the insured was hospitalized prior to entering the facility. - -Medicare
-Disability income policies provide protection for which of the following? - -
Economic Death
-Christine is receiving benefits provided from her disability income
insurance. As compared to her previous earnings, the disability benefits
should be - -Somewhat less
-What is normally the consequence for NOT obtaining preadmission
certification prior to receiving inpatient medical care? - -A reduction in
benefits
-Under the law of agency, the principal is considered to be - -The insurer
-Which of these is not considered the responsibility of a producer during the
underwriting process? - -Selecting the final approval date
-Which of the following statements is TRUE if the owner of an IRA names
their spouse as beneficiary, but then dies before any distributions are made?
- -The account can be rolled into the surviving spouse's IRA
-What is the maximum number of employees (earning at least $5,000) that
an employer can have in order to start a SIMPLE retirement plan? - -100
-A signed good health statement may be requested by a life producer at the
time of ____________ - -Policy delivery
-A retirement plan that sets aside part of the company's net income for
distributions to qualified employees is called a - -profit-sharing plan
-Which factor determines the maximum disability income benefit that can
be purchased by an applicant? - -The applicants income
-Which of these is not a factor that influences group health insurance
underwriting? - -Physical exams of group members
, -An advantage of owning a flexible premium life insurance policy would be -
-The policyowner can make policy changes without difficulty
-Darrel has a group long-term disability income policy paid by his employer.
Which of these statements is true? - -The specified benefit amount is a
percentage of the covered employee's wages.
-Free-for-service is a method of administering health insurance benefit
payments in which - -the cost of each service is scheduled
-A policy owner is permitted to take out a policy loan in a while life policy at
what point? - -when the policy has a cash value
-Which of the following actions would be considered a felony in the state of
Arizona? - -Attempting to defraud an insurer
-A reciprocal typically has an administrator who manages the premiums
collected from the groups members. This administrator is called a(n) - -
attorney-in-fact.
-Reductions in coverage are one feature of _________ in Health insurance
policies. - -Cost containment
-The law of large numbers enables an insurer to - -predict losses
-Enrollees in a staff model HMO have which of the following pharmacy
options available? - -In-house pharmacy
-Which statement is true regarding hospital preadmission certification for
emergency situations? - -Notification is required to be given after insured is
admitted to the hospital.
-A(n) ___________ insurer assumes risk from another insurance company. - -
Reinsurance
-Which of the following is excluded in a medical expense plan? - -Military
Duty
-Interest is credited to a fixed annuity no lower than the - -contract
guaranteed rate
-Larry wants to purchase an individual disability income policy to provide
continuous income while disabled. He is also covered by a two-month wage
continuation benefit from his employer. What should the policy elimination
period be for his individual policy? - -60 days
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